The Code Enforcement Officer may require that, prior to the commencing any work, the owner post with the Town Clerk a performance guaranty or bond in the amount recommended by the professional consultants, and with surety and conditions approved by the Town Board, sufficient to secure compliance with the permitted work, and with conditions and limitations set forth in the steep slope permit. The particular amount and the conditions of the performance guaranty shall be consistent with the purpose of this chapter. The performance guaranty or bond shall remain in effect until the Code Enforcement Officer has ascertained that the work has been completed in compliance with the terms of the steep slope permit and this chapter. Once such determination is made, the Code Enforcement Officer shall request and the Town Board shall release the performance guaranty or bond. In the event of a breach of any condition of a steep slope permit, the Code Enforcement Officer may request and the Town Board may obtain and make appropriate use of the proceeds of the performance guaranty or bond.